State of California preparing for IOU's

[miss cali]

I sure wish they would hold legislatures (in content) until we have a budget. It makes no sense to keep prolonging it. In the end we are still in the red.

[miss cali]

Originally Posted by Huckleberry3911948

the deficit is equal to medical.
no medical no deficit.
illegals greatly use medical.

Can we please leave the "illegal" issues in the Illegal Immigration forum, please! That gets tiresome .

Look at the bigger picture. The massive spending was due to lack of budgeting.

[miss cali]

Originally Posted by EscapeCalifornia

As stretched as banks are today, I don't know if they'd do that again.

I heard Golden One will.

[JohnG72]

Originally Posted by miss cali

If the fiscal budget is not passed, we will likely be issued IOU's for our next paycheck. I doubt my landlord will take an IOU.

LOL looks like someone is living paycheck to paycheck for no good reason other than poor money management issues.

I LOL hard at one of my co-workers here in city of LA. She makes base salary of $98K a year, and then works enough OT to get around $122-123K a year total. Her husband makes the same.

Now that we have mandatory furloughs and OT is gone, she is panicked. LOL like her $89K base salary after furlough is not enough to pay rent. That is soooooooo funny. LOL living paycheck to paycheck at that household income.

[bipolarpunk]

Originally Posted by miss cali

Can we please leave the "illegal" issues in the Illegal Immigration forum, please! That gets tiresome .

Look at the bigger picture. The massive spending was due to lack of budgeting.

Obviously the Illegals are part of the problem and an issue that many Politically correct or cheap labor utilizing Californians don't want to deal wtih..

The current budget problem though does deal with the legislature's neglect to do their job of passing a budget on time.. If most people make a consistent habit of NOT showing up to work on time in the private sector, they are eventually terminated.. This state needs to see some upheaval at the Ballot box..

Californians like to complain about the State's budget problems, but don't want to hold the Legislature accountable.. There should be massive marches in Sacramento and outraged taxpayers demanding that the Legislature NOT be paid until the budget is passed.. Period!

I also believe that many programs will NEED to be cut.. Let's face it, a special election was held, Californians voted against more taxes.. Californians are one of the most TAXED states in the union with a high cost of living to boot.. Programs HAVE to be cut in order to stop the fiscal bleeding.. Of course everyone is complaining because they aren't going to have exactly what they want, but there is ALOT of wasteful spending in many of these programs as well that should be cut.. In the private sector, businesses lay off employees and cut expenses where they need to, it's time that the public sector and government agencies and programs do the same..

[Curmudgeon]

Originally Posted by FresnoFacts

In 1992 it was something like $350 million in IOUs issued to state employees.

I also remember the same thing in about 1980 or 1981. Curmudgeon or someone else might remember for sure.

It seems to me the state issued daily lists of the payroll warrants that could be cashed. Banks and credit unions gave most state employees immediate access and held the warrant until the state paid it to help customers.

There was a budget "crisis" in the early 80s when Proposition 13 bailout money ran dry but nothing like this or even like the one in 1990-91 that led to layoffs and the issuance of registered warrants, aka: IOUs. The good news for state workers is that they will be paid in real money. After the last fiasco during which only a few select banks honored those payroll IOUs, a federal court declared them unconstitutional and ordered that workers who have given of their time must receive negotiable payment.

As usual, the Legislature fiddles while Sacramento burns!